October 26, 2011 // Franchising.com // (Calgary, AB)---LED Source®, a company that supplies LED lighting products and specializes in full-scale evaluations and retrofits in both commercial and residential properties, announces the opening of its second location in Canada located at Bay 2, 4312 Ogden Road S.E. in Calgary. Local residents Robb Gardner and Boh Woodward will head up the new location and will service all of southern Alberta from the north side of Red Deer to the American Border.
Having both worked for more than 20 years as sales representatives on the wholesale side of the musical instrument distribution business, Gardner and Woodward saw the industry slowly decline over the years and were looking for a fresh start.
“Changes in the music industry due to the recession and other factors made me doubt the stability and longevity of my career,” said Woodward. “Robb and I were both looking for a business opportunity in an unrelated field that has room for growth and is new and exciting for us. There is a fast-growing marketplace for LED lighting and when we came across LED Source, we knew it was the perfect fit.”
Founded in 2005 by Marcel Fairbairn, a veteran in the automated lighting industry, LED Source is North America’s first and only franchisor of LED lighting. The company supplies LED products to commercial office spaces, schools, churches, theaters, art galleries, restaurants and nightclubs, special events, residential and landscape lighting and much more.
“Marcel and I have known each other since the late 1980s when we were both involved in the music industry,” says Gardner. “We’ve kept in touch over the years and when I heard more about LED Source I knew it was something I wanted to be a part of.”
LED (light-emitting diode) lighting is the most energy-efficient lighting solution currently available. Although the LED lighting market is still in its infancy, market tracker Strategies Unlimited predicts global sales of general-purpose LEDs will triple to $14.9 billion in 2013 from $5.1 billion in 2008, a compound annual growth rate of 24 percent.
While LED lighting can cost more than incandescent and fluorescent lights – requiring a higher initial investment – businesses will often see the payback in just a year or two. The availability of federal tax incentives and local utility rebates for qualifying LED retrofit projects that can cover anywhere between 30 to 100 percent of the cost of LED lighting provides an even stronger incentive.
“Businesses are constantly looking for ways to reduce expenditures and increase their bottom line,” says Woodward. “With today’s economic pressure this has become increasingly more important. LEDs offer an opportunity for business owners to cut costs on energy bills and maintenance fees while being environmentally responsible.”
According to the U.S. Dept, of Energy, rapid adoption of LED lighting in the United States over the next 20 years would reduce electricity demands from lighting by one-third, eliminate 258 million metric tons of carbon emissions, eliminate the construction of 40 power plants and create financial savings that could exceed $200 billion.
LED Source currently has one location in Montreal and is expanding into Toronto before the end of the year. There are also locations in Dallas, Lawrence, Kan., Bloomington, Ind., Los Angeles, and Des Moines, Iowa. The company is also developing in New York, San Francisco, Illinois, Hawaii and Colorado and expects to sign 30 franchise agreements this year, with at least 20 locations in operation. For more information, visit www.LEDSource.com.